Markets & Finance

Goldman Sachs Downgrades Universal Access

Analyst Matthew Janiga says he downgraded the company due to the increased risk of overarching industry concerns such as network consolidation, a weaker market for competitive carrier services and Internet infrastructure services, as well as on-going issues such as ICGE ownership and funding status.

Janiga maintains his below-guidance estimate of a $0.56 2001 loss per share on $149 million in revenues, but widened the $0.03 2002 loss estimate to a $0.11 loss and cut the $313 million revenue estimate to $254 million due to uncertainty surrounding the success of various initiatives such as CORE and Equal Access.